The Bank of England has seen off several threats
But the path ahead remains perilous
What a difference a month can make. On September 26th officials at the Bank of England were dealing with a toxic brew of high inflation, fiscal profligacy from a prime minister who wanted to revisit the bank’s mandate, and an incipient financial crisis. On October 26th a new prime minister was in place; the government was committed to balancing the books; and calm prevailed in the financial markets. But the central bank, whose monetary-policy committee will meet on November 3rd, still faces daunting problems.
This article appeared in the Britain section of the print edition under the headline “Needle not yet threaded”
Britain October 29th 2022
From the October 29th 2022 edition
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